It's still on. But Sharp reportedly has had problems in manufacturing its IGZO panels, which led to a substantial delay in delivery. Plesae read the story here:
http://www.eetimes.com/electronics-news/4400477/Embattled-Sony--Sharp-and-Panasonic-left-with-little-credibility?pageNumber=0

I agree, Kris.
I feel ambivalent every time when I report on quarterly results.
But those are the early warning signs no companies should take it lightly, and they should come up with a strategy -- quickly.
If Sharp runs themselves into ground, then, there will be no Sharp and no place to work!

Being socially responsible is actually making lots of sense for me...we tend to dump engineers in North America at every sign of biz weakness...good for companies, perhaps, not so good for the society at large...kris

If Sharp gets rid of its LCD operation, there is really nothing left.
It's got solar, but that's tanking -- everywhere in the world.
Presumably, Sharp could focus on small-screen LCDs for mobile. But then, again, that's a very competitive market.
The fact that it makes harder for a Japanese company to make a huge change, as discussed in the thread here, is the following. Japanese companies, in general, are not in the habit of ruthlessly cutting employees at the first sign of decline in any given quarter.
They won't act fast.
But to their credit, Japanese companies are much more paternalistic. They see themselves socially responsible for taking care of their employees.

Maybe the firm needs to just focus in on just a few of its more profitable business units and sell of the rest. That way it could stay independent, and run leaner and meaner. Easy to say, tough to do, I know... but it's not like the company doesn't have a choice.